Liz Truss announces offer for PM, promises to reverse tax hike

She has insisted she “can be trusted to deliver”.

The senior cabinet minister, who is widely expected to be a front-runner in the already crowded race, pledged to “start tax cuts from day one” to help cover living expenses.

There is now 11 Tories in the running for PMas the newly appointed Foreign Minister Rehman Chishti declared his candidacy on Sunday evening.

Other contenders include former Health Ministers Sajid Javid and Jeremy Hunt, ex-Chancellor Rishi Sunak, his successor Nadhim Zahawi, Transport Secretary Grant Shapps and Trade Secretary Penny Mordaunt.

Former Minister Kemi Badenoch and senior backbench Tom Tugendhat have also done so threw their hats into the ring.

The Argus: (PA)(PA)

Priti Patel has yet to decide on the leadership offer

According to the PA news agency, Home Secretary Priti Patel has yet to decide whether to submit her own bid and is likely to make a final decision on Monday.

Truss’ promise to eliminate the increase in Social Security matched Component Javid’s.

The increase came into effect in April and was introduced to raise funds for the NHS and social care, but has proved controversial at a time when households are feeling the cost of living from rising food and energy bills.

Truss argued that “it is not right to collect taxes now” and as chair she would “take immediate action” to support the cost of living.

She said she would “keep corporate tax competitive” – ​​and hinted she might revisit Mr Sunak’s plans to raise the rate in April 2023, but didn’t go as far as to live up to the pledges of some of her peers to cancel the increase entirely .

The Secretary of State said she will “grow the private sector faster than the public sector, with a long-term plan to reduce government size and tax burdens.”

registered mail The TelegraphShe said: “Under my leadership, I would cut taxes from day one to take immediate action to help people manage the cost of living.

“I would reverse the social security hike introduced in April, ensure we keep corporation tax competitive so we can attract business and investment to the UK and put Covid debt on a longer-term basis.”

She said her plan would put the country back on track to become a “high-growth, high-productivity powerhouse.”

“It is based on a clear and longstanding conservative philosophy, including bold supply-side reform,” she added. Liz Truss announces offer for PM, promises to reverse tax hike

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